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It seems that I have garnered the hate factor over the past couple of weeks. Every thing is about timing. Don't forget, when this stock moves up, it does so on very little volume, so the time to pick it ilup is, when it sells off. Granted u need to take a bit of a leap of faith in the next set of assay results due anytime, but bear in mind, I'm suffering just like the rest of the LEX steadfasts.. And actually, the assays so far have been excellent... Information flow is getting better.
Still hanging in there, though its a longer play than I expected..
Not too far off 50% here. However, I take complete responsibility for my purchases as I had done quite a lot of research on them as well as Revolution/Oxford. The company PR here has got to be amongst the worst I've seen. They've only just started to get moving but it seems like too little too late (to the market anyway). Personally going to wait for JK assays and JORC updates but I'm not holding out much hope here...
So everyone, if you'd taken the advice of LEX's PR guy, rosetintedspecticles, how much would you have lost filling your boots with this stock?
New presentation up. Doesn't go as far as I'd like but its start. We got to keep pushing tho as there's still so much that's not been released. I hope we're due another land package RNS soon where we've grown our JKL acreage.
And despite all this wonderful rosey news, the share price drops further. WTF are we missing? Why is this SP so low?
I find the closer we get to complete results/updated JORC from the current drilling round, the more impatient I get. I'd have thought after all these years I'd be more chilled.
I do remember another poster reporting that LEX didn't want to give too much away, in case it increased the price of any expanded land licences. Maybe that, plus what Rosie said below about the NOMAD might explain the poor level of info for shareholders.
Anyway, keep up the pestering - it seems to be working!
Jeez, I think they might actually be listening...
https://twitter.com/LexGoldLtd/status/1529060792489893893?t=2ec12Khunv6_hEWnb39DJg&s=19
They release the grades for the holes at Loflin South but we don't even get diagrams or any infographics on the holes themselves, an idea of what mineralisation looks visually and extra targets these new holes have potentially unlocked. Why are we needing to enquire about this when it is the bare minimum? Look at other gold explo co's (MILA etc.) - all of them have extra info in their grade releases. Sick and tired of 10% RNSs.
Company needs to get on the offensive, simple as that. They need to expedite JORC for Loflin + South as well as JK once grades are in. Possibly could be close to 200k & well over 100k oz Au. New presentation + Geo. They're not doing their job holding all the info they have back - they're accountable to the shareholders and we're all sick of them sending out the bare minimum.
Seems like a slow death. Kill me now.
Boracic, I agree with you. The environment on AIM stinks. 2 of my brokers called my yesterday to say that there are margin calls all over the place and with worries about the cost of living people are just liquidating their portfolio of smaller AIM listed stocks whatever their prospects. However, one can only hope that things settle down sooner rather than later. As mentioned below on Monday, the announcement is actually a pretty good one. One thing I know for sure through chatter on the street, is that Strand Hanson, LEX's NOMAD is very picky on what you can say to the market in RNS's. They have had run ins with the AIM people and have to be squeaky clean in this regard. I suspect that this is why management find it tough be more optimistic in tone with announcements. This kind of attitude is killing AIM as a market. NOMADs are expensive and if you speak to the companies on the AIM market, they actually make it more difficult to develop compared to having a main board listing. This is a real issue.
But the story is intact, They are hitting shallow gold wherever they drill. They have found and confirmed a new anomaly which is likely part of the Loflin structure in the first place, and that Loflin is open to the NE, S, and SE. We are still awaiting the announcements re the last holes on JK. That, as we know, will be a prelude to the expansion of the Loflin JORC reserve, and likely a new one at Loflin South and the possibility of a new one at JK. Not to mention the above, it is looking increasingly likely that JKL is actually one single deposit. They just cant say so yet....
Understand that there is disappointment out there, I am a member of that club, but the global backdrop is not a help. Nevertheless LEXers, I shall be eagerly awaiting the next 3 or 4 instalments of the LEX RNS story as it unfolds.
I think peterhouse capital need to be fired. It is their job to get this stock in front of credible investors around the city and they have clearly failed to do so. Fire peterhouse capital and hire a decent broker that can help this company grow into a decent little junior gold miner.
Your right of course BoracicLint in regards to external factors beyond our control such as covid then the war. I know mining is a long term investment, just feel very frustrated at the moment.
Feel like I need to put this away in bottom draw so to speak and look at it in a couple of years when I'm ready to retire
Always believe
GOOD LUCK ALL
YNWA
Paris, I've been waiting for jam tomorrow since 2009!
It's disappointing once again that news generates no major SP movement. On the contrary, in the last 3 months, we have declined from about 3.5p to 2.5p (though some of this is no doubt due to external factors like inflation and war).
The assays look promising but contain no major headlines - does this mean we will have to wait for the remaining assays and then an updated JORC to make LEX a bit more loved? Or fund-raising and another round of drilling to conclusively prove a big enough extractable bunch of deposits to get some major interest.
It’s great that there’s potential to expand the asset, but the question now is whether they’ll need to raise funds for the next phase of drilling. I suspect they will.
Looks and smells like "Jam tomorrow" to me. With this SP I've placed a home delivery order with Lidl, if it goes north may treat myself and change to Waitrose.
Good luck all
Always believe
YNWA
Not quite sure how this clears you of being a LEX plant. If anything it bolsters the position. Your post is just after the RNS is published and once again giving some extra posative spin....
Oh ye of little faith!!! At the risk of being accused by Mr. Long of being a LEX employee yet again, I am venturing to make another post. In the interest of my sanity I thought it best if I didn't say anything to save my reputation following Mr. Long's iterations (if I still have one that is!!) and let the numbers do the talking. So now we have an RNS that is beginning to confirm what one or two of us have suspected all along, that this is one MUCH LARGER deposit rather than 2 or three smaller ones. We will need to have more drilling to confirm this but let's use the evidence of what we see in today's RNS as a starting point. The numbers ARE doing the talking now, NOT me! See below......
"Drilling has extended the known north-eastern (Loflin) deposit boundary and confirmed that the deposit remains open to the north-east towards the direction of Jones-Keystone". And...
"Loflin deposit appears to pinch off in a South-Westerly direction, but the drilling results also indicate that the deposit opens towards the south and south-east and potentially links in with the Loflin South deposit, with intersections including 36m @1.67 g/t Au between 20m to 56m as recently announced".
At this stage it is worth referring to the prospectus for this property when the stock was re-listed and renamed in 2020. There were pictures incorporating all the underground knowledge available at the time and although it clearly showed there was a gap between JK and L, if you look at it, given the directions of both deposits, it was not exactly rocket science to turn around and say that they could well have been the same deposit, even at that time!! But actually, we now have a new anomaly which has been drilled which means it is likely that Loflin South and Loflin are one and the same with the deposit getting thicker again as you go further south into the anomaly...which also remains open.
Also we now get the following comments from the CEO:-
"The drilling results for Loflin continue to return significant shallow level intersections including intersections outside of the known north-eastern boundary of the main Loflin resource. The main Loflin deposit remains open to the north-east and also to the south and south-east and potentially links up with Loflin South."
I take this as extremely good news, whether the market will is a different matter, but I have to say I am very encouraged by what I see here. We still have 1) The drilling results for Jones Keystone to come and, 2) JORC compliant reserves likely for a) Loflin, b) Loflin South and c) Jones Keystone; though it is possible by then that the 2 Loflins may actually be treated as one!!
It's not going to take much to get this one moving..... just a bit of sane rational thinking by new or existing players could get this on its way in a heartbeat. Its been a long wait, but I can see the "pot of gold" coming into focus now. Let's not throw our toys out of the pram here....
What's this other listed vehicle?
Unfortunately I tend to agree with Gloster having held through TZ1 & Richland Resources.
I'm not sure I believe MMs are playing games or short. I just don't think the management has done a good job getting the story out. I really don't. When was the last time we actually saw some concrete targets? We've found a new resource (Loflin South) - anyone know how many other potential targets we're going for? No, I didn't think so. Nothing short of abject failure from the board. Hell I've done so much reading on the historical work by Revolution & Orford mining because the board haven't given me any other option! Presentation now over 18months old. Can you believe that considering all the news we've had since Nov 2020?
A market maker would always try to walk a stock down if they are short!!
Management have no ability to execute. Now they’ve set up another listed vehicle. Specialists in failure.
I agree this share makes no sense. The results of the exploration are excellent yet the SP drops. In what world do the market makers trade a share lower than its value? The MMs are business people and want to profit. The issue has to be something about the firms management, something they don't like, or the MMs have options that a lower share price benifits. Which of course would be fraud.
The largest share holders will be sitting comfortable whatever happens to the SP of that I'm very sure.
Whereas part of my modest pension pot is eroding away month on month here.
Therefore I'm not impressed, but have no option but to hold
Always believe
GOOD LUCK ALL
YNWA